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Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2020
Summary of Significant Accounting Policies |
Schedule of indefinite-lived intangible assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) | ​ | Balance at September 30, 2020 |  | Balance at December 31, 2019 | ​
Trademarks/tradenames (indefinite-lived) | ​ | $ | 178 |  | $ | 178 | ​
Schedule of goodwill | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | North | ​ | South | ​ | Asia- | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | America |  | America |  | Pacific |  | EMEA |  | Total |
Goodwill before impairment charges | ​ | $ | 608 | ​ | $ | 54 | ​ | $ | 229 | ​ | $ | 65 | ​ | $ | 956 | ​
Accumulated impairment charges | ​ | ​ | (1) | ​ | ​ | (33) | ​ | ​ | (121) | ​ | ​ | — | ​ | ​ | (155) | ​
Balance at January 1, 2020 | ​ | ​ | 607 | ​ | ​ | 21 | ​ | ​ | 108 | ​ | ​ | 65 | ​ | ​ | 801 | ​
Acquisitions | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 48 | ​ | ​ | — | ​ | ​ | 48 | ​
Currency translation | ​ | ​ | — | ​ | ​ | (6) | ​ | ​ | (3) | ​ | ​ | 1 | ​ | ​ | (8) | ​
Balance at September 30, 2020 | ​ | $ | 607 | ​ | $ | 15 | ​ | $ | 153 | ​ | $ | 66 | ​ | $ | 841 | ​
Schedule of change in presentation of shipping and handling costs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, 2019 | ​ | Nine Months Ended September 30, 2019 | ​
(in millions) | ​ | As Reported | ​ | As Adjusted | ​ | As Reported | ​ | As Adjusted | ​
Consolidated Statements of Income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales before shipping and handling costs | ​ | $ | 1,574 | ​ | $ | — | ​ | $ | 4,660 | ​ | $ | — | ​
Less: shipping and handling costs | ​ | ​ | 117 | ​ | ​ | — | ​ | ​ | 349 | ​ | ​ | — | ​
Net sales | ​ | ​ | 1,457 | ​ | ​ | 1,574 | ​ | ​ | 4,311 | ​ | ​ | 4,660 | ​
Cost of sales | ​ | ​ | 1,113 | ​ | ​ | 1,230 | ​ | ​ | 3,322 | ​ | ​ | 3,671 | ​
Gross profit | ​ | $ | 344 | ​ | $ | 344 | ​ | $ | 989 | ​ | $ | 989 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, 2019 | ​ | Nine Months Ended September 30, 2019 | ​
(in millions) | ​ | As Reported | ​ | As Adjusted | ​ | As Reported | ​ | As Adjusted | ​
Net sales to unaffiliated customers: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
North America | ​ | $ | 892 | ​ | $ | 984 | ​ | $ | 2,637 | ​ | $ | 2,912 | ​
South America | ​ | ​ | 234 | ​ | ​ | 245 | ​ | ​ | 667 | ​ | ​ | 699 | ​
Asia-Pacific | ​ | ​ | 196 | ​ | ​ | 205 | ​ | ​ | 585 | ​ | ​ | 611 | ​
EMEA | ​ | ​ | 135 | ​ | ​ | 140 | ​ | ​ | 422 | ​ | ​ | 438 | ​
Total | ​ | $ | 1,457 | ​ | $ | 1,574 | ​ | $ | 4,311 | ​ | $ | 4,660 | ​

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